big sale, page-11

FYI Everyone

It is coming from a broker who gets a sellorder and instead of selling the whole lot he dumps into an auto system and lets in flow. Maybe I stand correct and this is just sentiment

Here is ASX reply


I said "There are no indications that manipulation is occurring in this stock".

You wished to know what evidence this is based on, this is my opinion and it is based on confidential trading information that I can see.
These are broker names, buying and selling references, advisor names nd client identifiers. Besides these, I can also see recent histories of the people buying and selling the stock. From this type of information I usually decide whether the trading appears normal or not.

There is no set target for DMA%, and the ASX does not control whether brokers uses DTRS or DMA to enter their orders, it is up to the brokers to use whatever system they wish. 70% due to DMA by volume would be high but its possible.

I have reviewed todays trading. The few 1 share lots early in the day were caused by an intial sell order of 791 shares, the odd 1 share caused 59,999 to left on the bid, and so on, the end result there were some 1 share trades which was purely due to this rounding problem.

Also during the day there was a program seller. It appears to have recived an order to sell 20,000 shares during the day and time averaged.
The computer would have divided 20,000 by 360 minutes in a trading day to get 55 shares per minute or 110 shares per 2 minutes or 550 per 10 minutes etc. So it sold about 500 shares every 10 minutes and you saw the small trades go through. It sells at the best bid that exists at the time. Why do you think this is manipulative? This is not manipulative, the seller is trying to get an average price for his parcel and took the option of time averaging.

Trading in CQT appears to be normal.